NN Re prices Orange Capital cat bond at 7.5%
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NN Re prices Orange Capital cat bond at 7.5%

US Currency: Wads of US bills fastened with rubber bands, close-up

NN Re, part of Nationale-Nederlanden, has priced its EUR75mn ($81.9mn) Orange Capital Re cat bond at 7.50%, this publication understands.

The carrier has set the pricing guidance at 7.5%, up from an initial spread of 6.75%-7.5% and an updated spread of 7.25%-7.5%,

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